Fmr LLC lowered its stake in CDW (NASDAQ:CDW) by 35.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,174,750 shares of the information technology services provider’s stock after selling 1,737,041 shares during the period. Fmr LLC owned approximately 2.12% of CDW worth $282,298,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of CDW by 149.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,295 shares of the information technology services provider’s stock worth $115,000 after purchasing an additional 776 shares during the last quarter. Synovus Financial Corp lifted its position in shares of CDW by 62.1% during the 3rd quarter. Synovus Financial Corp now owns 1,470 shares of the information technology services provider’s stock worth $131,000 after purchasing an additional 563 shares during the last quarter. Bank of Hawaii acquired a new position in shares of CDW during the 2nd quarter worth about $209,000. Measured Wealth Private Client Group LLC acquired a new position in shares of CDW during the 2nd quarter worth about $224,000. Finally, Alta Capital Management LLC acquired a new position in shares of CDW during the 3rd quarter worth about $232,000. 89.85% of the stock is owned by institutional investors.
NASDAQ CDW opened at $92.68 on Monday. CDW has a twelve month low of $66.88 and a twelve month high of $93.92. The company has a quick ratio of 1.24, a current ratio of 1.41 and a debt-to-equity ratio of 2.75. The stock has a market cap of $13.90 billion, a P/E ratio of 19.35 and a beta of 1.03.
CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, October 31st. The information technology services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.24 billion. CDW had a return on equity of 70.39% and a net margin of 4.24%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 EPS. As a group, analysts expect that CDW will post 4.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Monday, November 26th will be issued a $0.295 dividend. This is a boost from CDW’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, November 23rd. This represents a $1.18 annualized dividend and a yield of 1.27%. CDW’s dividend payout ratio is 30.41%.
Several equities analysts recently weighed in on the company. ValuEngine raised CDW from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research cut CDW from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Finally, BidaskClub raised CDW from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $88.63.
In other CDW news, insider Thomas E. Richards sold 16,667 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $88.87, for a total value of $1,481,196.29. Following the completion of the transaction, the insider now owns 616,742 shares of the company’s stock, valued at approximately $54,809,861.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas E. Richards sold 18,182 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $81.48, for a total value of $1,481,469.36. Following the completion of the transaction, the insider now directly owns 51,077 shares of the company’s stock, valued at approximately $4,161,753.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,252 shares of company stock valued at $7,918,866. Insiders own 2.60% of the company’s stock.
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CDW Company Profile
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.
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